5 Tips for Getting Started in Luxury Homes

At 19, Jim Remley listed over 150 properties in a 12-month period and was listed in the top 1 percent of REALTORS® nationwide. Today, he is author of three books, the Principal Broker/Sales Manager at his agency, and an accredited Luxury Home Specialist. In a recent webinar, "Marketing Luxury Homes," Remley shared five tips for finding luxury buyers and marketing luxury homes.

1. Social Marketing

It can be tough to locate qualified buyers in the luxury home market. "The affluent folks live in circles. They all know each other," and as such, "they often go to their friends, their neighbors, people they trust to find what to purchase, where to go, and where to live," says Remley. In fact, 38 percent of luxury home specialists agree that the best way to find an affluent buyer is through social marketing. That's why it's important to use your network, your colleagues, even your competitors to find affluent buyers.

2. Growing Your Network

A good way to start or expand your network of luxury buyers and sellers is to buy local databases and mailing lists. The country club, yacht club, and local title companies are a great place to start. Remley mentions that you can often get a basic list from these companies for free, but can get more data points to better target luxury clients with a paid list.

3. Features vs. Benefits

"The reason why someone is willing to spend a million dollars, or two million dollars, or five million dollars on a home is because of the way it makes them feel about themselves," Remley points out. He elaborates that, "instead of talking about the features, we need to really talk about what that does for someone." So rather than saying a home features a covered deck and three car garage, say that the home has a "covered deck perfect for a relaxing summer barbeque" or a "three car garage – room to park all of your toys!"

4.Qualified Open Houses

A qualified open house is a great way to find potential buyers and add potential sellers to your network. This exclusive event's limited number of attendees and invitation only admittance will appeal to affluent buyers. Create some nice RSVP cards to send out to REALTORS® who sell luxury homes, your listing's neighbors, your own affluent network, and the seller's network.

5. Luxury Home Books

Creating your own branded, property-specific luxury home books that "establish you as an expert in the luxury field" and demonstrate the level of commitment you have to selling your luxury listings. And, according to Remley, if the interested buyer has a "property they need to sell before they purchase, they're going to likely consider listing with you."

Looking for more ways to market luxury homes? Watch the full "Marketing Luxury Homes" webinar online. Register now for the next Secrets of Top Selling Agents webinar, "How to Become, Stay and Feel Successful, the Final Secret," featuring Floyd Wickman on June 22.

To view the original article, visit the Homes.com blog.